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== COST Action 19130 - Fintech and Artificial Intelligence in Finance - Towards a transparent financial industry ==
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The New Wonders are designed to make an instant impact, offering the 'wow factor' and 'awesomeness' in spades.<br><br>Pictured is one of 10 jungle swings dotted around the island of Bali designed to bring out your inner Tarzan or Jane<br>The Taj Mahal, the Acropolis, Angkor Wat, Machu Picchu... the list of the world's wonders has not changed much over the decades.<br>But now we are dreaming extra hard of the next great journey, is it time to think again? The world's great sights will always retain their allure.<br><br>But the new millennium has seen fresh wonders appearing on our travel itineraries.<br>And they are millennial sites in another sense, too: they have been created for the smartphone generation who have never had to wait for holiday photographs to be developed.<br>The Old Wonders gained their status the hard way, surviving hundreds or even thousands of years,  [https[ TOWERS OF GREEN<br>        Bosco Verticale (or 'Vertical Forest') in Milan, pictured, comprises two residential tower blocks bursting with vegetation<br>Completed seven years ago, Bosco Verticale (or 'Vertical Forest') in Milan comprises of two residential tower blocks designed with balconies that jut out allowing trees and other vegetation to grow — forming towers of green. Milan's opera house and cathedral have a new rival for visitors' attention that offers an intriguing glimpse into the future of cities. Vegetation is the new cladding.<br>Star quality: More than 900 trees are planted on the facades of the two buildings, the tallest of which rises 364 ft.<br>How to see it: A two-night getaway to Milan from £266 pp including flights and B&B at 43 Station Hotel, within walking distance of Bosco Verticale (<a style="font-weight: bold;" target="_blank" class="class" rel="nofollow" website class="mol-para-with-font">SCI-FI SINGAPORE<br>        Gardens by the Bay in Singapore is an urban park that has a series of 18 extraordinary 'supertrees'. The tallest is 164ft <br>Gardens by the Bay in Singapore is an urban park, opened in 2012, and its highlight is a series of 18 extraordinary 'supertrees' with vegetation spouting out of the tall thistle-like structures — the tallest is 164ft.<br>They were designed by the Bath-based architects Grant Associates, which won a competition to complete the project. Its Instagram page #gardensbythebay has had more than a million posts.<br>Star quality: Take a stroll on the skywalk between the two tallest 'supertrees' — and go in the evening at 7.45pm to enjoy the light and music show.<br>How to see it: Heathrow-Singapore flights from £531 return (<[ SCI-FI SINGAPORE<br>        Gardens by the Bay in Singapore is an urban park that has a series of 18 extraordinary 'supertrees'. The tallest is 164ft <br>Gardens by the Bay in Singapore is an urban park, opened in 2012, and its highlight is a series of 18 extraordinary 'supertrees' with vegetation spouting out of the tall thistle-like structures — the tallest is 164ft.<br>They were designed by the Bath-based architects Grant Associates, which won a competition to complete the project. Its Instagram page #gardensbythebay has had more than a million posts.<br>Star quality: Take a stroll on the skywalk between the two tallest 'supertrees' — and go in the evening at 7.45pm to enjoy the light and music show.<br>How to see it: Heathrow-Singapore flights from £531 return (<a style="font-weight: bold;" target="_blank" class="class" rel="nofollow" website See <[ DRAMATIC IN DUBAI<br>        The Dubai Frame, pictured, is a giant picture frame looking on to historic Dubai on one side and the new city on the other<br>The UAE's commercial capital is arguably the most outrageous city of the 21st century. <br>Futuristic touches were wired in from the beginning: hotels shaped like sails, islands like palm trees, the world's tallest building and, since 2018, the Dubai Frame: a giant picture frame looking on to historic Dubai on one side and the new city on the other.<br>Star quality: The 164ft-long bridge at the top has sensors so that the floor becomes clear when you walk across it; absolutely terrifying for vertigo sufferers as you're 492ft up.<br>How to see it: Three nights at Ramada by Wyndham Jumeirah from £380pp including flights (<[ DRAMATIC IN DUBAI<br>        The Dubai Frame, pictured, is a giant picture frame looking on to historic Dubai on one side and the new city on the other<br>The UAE's commercial capital is arguably the most outrageous city of the 21st century. <br>Futuristic touches were wired in from the beginning: hotels shaped like sails, islands like palm trees, the world's tallest building and, since 2018, the Dubai Frame: a giant picture frame looking on to historic Dubai on one side and the new city on the other.<br>Star quality: The 164ft-long bridge at the top has sensors so that the floor becomes clear when you walk across it; absolutely terrifying for vertigo sufferers as you're 492ft up.<br>How to see it: Three nights at Ramada by Wyndham Jumeirah from £380pp including flights (<a style="font-weight: bold;" target="_blank" class="class" rel="nofollow" website More info: <[ ROUNDABOUT ALERT<br>Extraordinary as it may sound, the latest attraction in the Faroe islands is a Jellyfish Roundabout. It opened last year at the junction of two tunnels linking islands. <br>Local artist Tróndur Patursson's illuminated rock and steel sculptures are bathed in blue and green light and shaped like a giant jellyfish.<br>Star quality: Figures linking hands in one section designed as though enjoying a traditional Faroese 'ring dance'.<br>How to see it: Return flights via Copenhagen from Heathrow from about £235 (<[ ROUNDABOUT ALERT<br>Extraordinary as it may sound, the latest attraction in the Faroe islands is a Jellyfish Roundabout. It opened last year at the junction of two tunnels linking islands. <br>Local artist Tróndur Patursson's illuminated rock and steel sculptures are bathed in blue and green light and shaped like a giant jellyfish.<br>Star quality: Figures linking hands in one section designed as though enjoying a traditional Faroese 'ring dance'.<br>How to see it: Return flights via Copenhagen from Heathrow from about £235 (<a style="font-weight: bold;" target="_blank" class="class" rel="nofollow" website class="mol-para-with-font">MEXICAN MARVEL<br>        Canadian-American architect Frank Gehry - who created the wonderful Guggenheim Museum in Bilbao in Spain - was involved in the creation of Museo Soumaya in Mexico City, pictured <br><div class="art-ins mol-factbox travel halfRHS" data-version="2" id="mol-e1ac7970-88e4-11eb-9e86-0704c0e8e274" website new wonders of the world, from swings in Bali to Dubai&apos;s Frame][ MEXICAN MARVEL<br>        Canadian-American architect Frank Gehry - who created the wonderful Guggenheim Museum in Bilbao in Spain - was involved in the creation of Museo Soumaya in Mexico City, pictured <br><div class="art-ins mol-factbox travel halfRHS" data-version="2" id="mol-e1ac7970-88e4-11eb-9e86-0704c0e8e274" website new wonders of the world, from swings in Bali to Dubai&apos;s Frame]
 
 
The financial sector is the largest user of digital technologies and a major driver in the digital transformation of the economy. Financial technology (FinTech) aims to both compete with and support the established financial industry in the delivery of financial services. Globally, more than $100 billion of investments have been made into FinTech companies and Artificial Intelligence (AI) since 2010, and continue growing substantially. In early 2018, the European Commission unveiled (a) their action plan for a more competitive and innovative financial market, and (b) an initiative on AI with the aim to harness the opportunities presented by technology-enabled innovations. Europe should become a global hub for FinTech, with the economy being able to benefit from the European Single Market.
 
 
 
The Action will investigate AI and Fintech from three different angles: Transparency in FinTech, Transparent versus Black Box Decision-Support Models in the Financial Industry and Transparency into Investment Product Performance for Clients. The Action will bridge the gap between academia, industry, the public and governmental organisations by working in an interdisciplinary way across Europe and focusing on innovation.
 
 
 
The key objectives are:
 
 
 
*to improve transparency of AI supported processes in the Fintech space
 
*to address the disparity between the proliferation in AI models within the financial industry for risk assessment and decision-making, and the limited insight the public has in its consequences by developing policy papers and methods to increase transparency</li>
 
*to develop methods to scrutinize the quality of products, especially rule-based “smart beta” ones, across the asset management, banking and insurance industries.
 
 
 
== Our COST Action FinAI==
 
 
 
* [[Responsibilities]]
 
* [[Internal Newsletter]]
 
* [[External Newsletter]]
 
* [[Events]]
 
* [[How to join]]
 
* [[Important links]]
 
* [[Technical Coordination]]
 
* [https://docs.google.com/spreadsheets/d/1pMeu4BS3vv_mbJ395FG6R3GhObW_Qo1O6vIHH0vkIiY/edit#gid=0 Get funding (proposals for activities)]
 
* [[Contacts]]
 
 
 
== COST FinAI Working Groups ==
 
Prof. Dr. [[Wolfgang Karl Härdle]], Leader Working Group 1, [mailto:haerdle@hu-berlin.de email]
 
Prof. Dr. Petre Lameski, Leader Working Group 2, [mailto:petre.lameski@finki.umki.mk email]
 
Prof. Dr. [[Peter Schwendner]], Leader Working Group 3, [mailto:peter.schwendner@zhaw.ch email]
 
 
 
* [[Working group 1 - Transparency in FinTech]]
 
* [[Working group 2 - Transparent versus Black Box Decision-Support Models in the Financial Industry]]
 
* [[Working group 3 - Transparency into Investment Product Performance for Clients]]
 
 
 
== COST Action Tools ==
 
To apply for an STSM grant or ITC grant, please register here: [https://e-services.cost.eu/ Official e-COST tool]
 
* [https://e-services.cost.eu/stsm STSM application]
 
* [https://e-services.cost.eu/conferencegrant ITC application]
 
* [[Training schools]]
 
* [[Conferences and workshops]]
 
 
 
== Collaboration with industry, governments and international organisations==
 
 
 
* [[Industry coordination]]
 
* [[Government collaboration]]
 
* [[Regulators]]
 
* [[International organisations]]
 
 
 
== Management Committee Meetings ==
 
* [[1st MC meeting]], online, September 14/15, 2020, Start of the Action FinAI
 
* [[2nd MC meeting]], online, November 12, 2020, Start of the first Grant Period
 
* [[3rd MC meeting]], online, February 17, 2021, Intermediate Results from the first Grant Period
 
 
 
== Working Group Meetings ==
 
* See our meet-up [https://www.meetup.com/Fintech_AI_in_Finance/]
 
 
 
== Grant Holder ==
 
The COST Action runs from September 2020 until September 2024 and is divided into five grant periods, each with different goals and budget.
 
Please go to [[grant periods]] for more details.
 
 
 
== Research ==
 
* [[Official COST FinAI Publications]]
 
* [[Research proposals]]
 
* [[Research projects]]
 
* [[How do I get funding for my COST activities]]?
 
* [[Contribute to writing a common paper]]
 
 
 
== Diversity ==
 
[[Diversity]] is one of the main aspects to be considered in this Action. The three main considerations are gender balance, participation of Inclusiveness Target Countries and Early Career Investigators.
 
 
 
== Science Communication ==
 
* Details about our [[Science Communication]].
 
* [https://fin-ai.eu/ Webpage]
 
* [https://twitter.com/FinAi_Cost Twitter]
 
* [https://www.linkedin.com/company/fintech-and-ai/ LinkedIn]
 
 
 
 
 
For any content to be added to our website, please compile the following [https://forms.gle/eQQWE82JabZ2ewuu8 Form]
 
 
 
== Short-term scientific missions ==
 
Short-term scientific missions [[STSM]] and Inclusiveness Target Country conference grants are two of the main tools which support the COST Action goals.  
 
 
 
== Virtual Networking ==
 
 
 
The [[Virtual Networking Grants]] aim to promote virtual collaboration within the Action.
 
 
 
== How to? ==
 
 
 
* How to [[publish COST papers]]?
 
* How to [[apply for STSMs]]?
 
* [[How to join]]?
 
* [[How do I get funding for my COST activities]]?
 
* [https://drive.google.com/drive/folders/1BIVo3wAVUOtCBqCpSrIcrmXe2LQC_ZCp How to find the google drive?]
 
 
 
== Contacts ==
 
 
 
Prof. Dr. [[Joerg Osterrieder]], Action Chair, [mailto:joerg.osterrieder@zhaw.ch email]
 
 
 
Prof. Dr. Valerio Poti, Action Vice Chair, [mailto:valerio.poti@ucd.ie email]
 
 
 
Prof. Dr. [[Wolfgang Karl Härdle]], Leader Working Group 1, [mailto:haerdle@hu-berlin.de email]
 
 
 
Prof. Dr. Petre Lameski, Leader Working Group 2, [mailto:petre.lameski@finki.ukim.mk email]
 
 
 
Prof. Dr. [[Peter Schwendner]], Leader Working Group 3, [mailto:peter.schwendner@zhaw.ch email]
 
 
 
Dr. Branka Hadji Misheva, Grant Holder, [mailto:hadj@zhaw.ch email]
 
 
 
Prof. Dr. Dr. Ania Zalewska, Academia-Government Coordinator, [mailto:a.zalewska@bath.ac.uk email]
 
 
 
[[COST FinAI Core Group]]
 
 
 
[[COST FinAI member profiles]]
 
 
 
[[COST FinAI country profiles]]
 
 
 
[https://www.cost.eu/actions/CA19130/#tabs|Name:management-committee Management Committee]
 
 
 
[https://docs.google.com/spreadsheets/d/14gqsVm9AuR13OTD0n7tc45DQlxQ0bb4uuLsSZSpdjj8/edit?usp=sharing COST FinAI participants]
 
 
 
== Acknowledgements ==  
 
[[Important_links#COST_Acknowlegdement]]
 
 
 
 
 
== COST FinAI Logo ==
 
Please always use our [https://drive.google.com/file/d/18ZnYD50Rs2aAskUdnjnP-rGLDg1rLy7I/view?usp=sharing COST FinAI logo].
 

Revision as of 08:39, 10 May 2021

The New Wonders are designed to make an instant impact, offering the 'wow factor' and 'awesomeness' in spades.

Pictured is one of 10 jungle swings dotted around the island of Bali designed to bring out your inner Tarzan or Jane
The Taj Mahal, the Acropolis, Angkor Wat, Machu Picchu... the list of the world's wonders has not changed much over the decades.
But now we are dreaming extra hard of the next great journey, is it time to think again? The world's great sights will always retain their allure.

But the new millennium has seen fresh wonders appearing on our travel itineraries.
And they are millennial sites in another sense, too: they have been created for the smartphone generation who have never had to wait for holiday photographs to be developed.
The Old Wonders gained their status the hard way, surviving hundreds or even thousands of years, [https[ TOWERS OF GREEN
Bosco Verticale (or 'Vertical Forest') in Milan, pictured, comprises two residential tower blocks bursting with vegetation
Completed seven years ago, Bosco Verticale (or 'Vertical Forest') in Milan comprises of two residential tower blocks designed with balconies that jut out allowing trees and other vegetation to grow — forming towers of green. Milan's opera house and cathedral have a new rival for visitors' attention that offers an intriguing glimpse into the future of cities. Vegetation is the new cladding.
Star quality: More than 900 trees are planted on the facades of the two buildings, the tallest of which rises 364 ft.
How to see it: A two-night getaway to Milan from £266 pp including flights and B&B at 43 Station Hotel, within walking distance of Bosco Verticale (<a style="font-weight: bold;" target="_blank" class="class" rel="nofollow" website class="mol-para-with-font">SCI-FI SINGAPORE
Gardens by the Bay in Singapore is an urban park that has a series of 18 extraordinary 'supertrees'. The tallest is 164ft 
Gardens by the Bay in Singapore is an urban park, opened in 2012, and its highlight is a series of 18 extraordinary 'supertrees' with vegetation spouting out of the tall thistle-like structures — the tallest is 164ft.
They were designed by the Bath-based architects Grant Associates, which won a competition to complete the project. Its Instagram page #gardensbythebay has had more than a million posts.
Star quality: Take a stroll on the skywalk between the two tallest 'supertrees' — and go in the evening at 7.45pm to enjoy the light and music show.
How to see it: Heathrow-Singapore flights from £531 return (<[ SCI-FI SINGAPORE
Gardens by the Bay in Singapore is an urban park that has a series of 18 extraordinary 'supertrees'. The tallest is 164ft 
Gardens by the Bay in Singapore is an urban park, opened in 2012, and its highlight is a series of 18 extraordinary 'supertrees' with vegetation spouting out of the tall thistle-like structures — the tallest is 164ft.
They were designed by the Bath-based architects Grant Associates, which won a competition to complete the project. Its Instagram page #gardensbythebay has had more than a million posts.
Star quality: Take a stroll on the skywalk between the two tallest 'supertrees' — and go in the evening at 7.45pm to enjoy the light and music show.
How to see it: Heathrow-Singapore flights from £531 return (<a style="font-weight: bold;" target="_blank" class="class" rel="nofollow" website See <[ DRAMATIC IN DUBAI
The Dubai Frame, pictured, is a giant picture frame looking on to historic Dubai on one side and the new city on the other
The UAE's commercial capital is arguably the most outrageous city of the 21st century. 
Futuristic touches were wired in from the beginning: hotels shaped like sails, islands like palm trees, the world's tallest building and, since 2018, the Dubai Frame: a giant picture frame looking on to historic Dubai on one side and the new city on the other.
Star quality: The 164ft-long bridge at the top has sensors so that the floor becomes clear when you walk across it; absolutely terrifying for vertigo sufferers as you're 492ft up.
How to see it: Three nights at Ramada by Wyndham Jumeirah from £380pp including flights (<[ DRAMATIC IN DUBAI
The Dubai Frame, pictured, is a giant picture frame looking on to historic Dubai on one side and the new city on the other
The UAE's commercial capital is arguably the most outrageous city of the 21st century. 
Futuristic touches were wired in from the beginning: hotels shaped like sails, islands like palm trees, the world's tallest building and, since 2018, the Dubai Frame: a giant picture frame looking on to historic Dubai on one side and the new city on the other.
Star quality: The 164ft-long bridge at the top has sensors so that the floor becomes clear when you walk across it; absolutely terrifying for vertigo sufferers as you're 492ft up.
How to see it: Three nights at Ramada by Wyndham Jumeirah from £380pp including flights (<a style="font-weight: bold;" target="_blank" class="class" rel="nofollow" website More info: <[ ROUNDABOUT ALERT
Extraordinary as it may sound, the latest attraction in the Faroe islands is a Jellyfish Roundabout. It opened last year at the junction of two tunnels linking islands. 
Local artist Tróndur Patursson's illuminated rock and steel sculptures are bathed in blue and green light and shaped like a giant jellyfish.
Star quality: Figures linking hands in one section designed as though enjoying a traditional Faroese 'ring dance'.
How to see it: Return flights via Copenhagen from Heathrow from about £235 (<[ ROUNDABOUT ALERT
Extraordinary as it may sound, the latest attraction in the Faroe islands is a Jellyfish Roundabout. It opened last year at the junction of two tunnels linking islands. 
Local artist Tróndur Patursson's illuminated rock and steel sculptures are bathed in blue and green light and shaped like a giant jellyfish.
Star quality: Figures linking hands in one section designed as though enjoying a traditional Faroese 'ring dance'.
How to see it: Return flights via Copenhagen from Heathrow from about £235 (<a style="font-weight: bold;" target="_blank" class="class" rel="nofollow" website class="mol-para-with-font">MEXICAN MARVEL
Canadian-American architect Frank Gehry - who created the wonderful Guggenheim Museum in Bilbao in Spain - was involved in the creation of Museo Soumaya in Mexico City, pictured 
<div class="art-ins mol-factbox travel halfRHS" data-version="2" id="mol-e1ac7970-88e4-11eb-9e86-0704c0e8e274" website new wonders of the world, from swings in Bali to Dubai's Frame][ MEXICAN MARVEL
Canadian-American architect Frank Gehry - who created the wonderful Guggenheim Museum in Bilbao in Spain - was involved in the creation of Museo Soumaya in Mexico City, pictured 
<div class="art-ins mol-factbox travel halfRHS" data-version="2" id="mol-e1ac7970-88e4-11eb-9e86-0704c0e8e274" website new wonders of the world, from swings in Bali to Dubai's Frame]